There are also two stores jointly owned by the joint venture and RioCan (Oakville Place and Georgian Mall in Ontario), each holding a 50 per cent stake. The quarterly report states that RioCan has backed two loans tied to its joint venture with Hudson's Bay. In return for taking on this risk, RioCan received claims over other assets in the joint venture to protect itself. Additionally, RioCan secured the right to end leases at three properties where Hudson's Bay currently pays below-market rent. Liquidation sales at all Hudson's Bay locations across the country are expected to end no later than June 1, 2025, at which point the stores will close.